I am the single recipient of my late grandmother’s will and I have everything in my name now, including the my former home in Trafford. The Trafford property was put into my name in June. I want to move. I do know about the Mortgage Lenders six month 'rule', meaning my property ownership may be considered the same way as though I had purchased the property in June. Is the property unsalable for six months?
The Council of Mortgage Lenders’ handbook obliges solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." By the strict wording you may be affected by that. How practical a view lenders take of it, depend on the lender as this obligation is principally there to pick up on subsales or the flipping of properties.
How can we tell if a Trafford conveyancing solicitor on the Virgin Money panel is any good?
When it comes to conveyancing in Trafford seeking recommendations is a good starting point. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one advertising the lowest fees. We would always advise that you speak with the lawyer carrying out your conveyancing.
My offer on a house in Trafford has been agreed to, the owners do nevertheless have a connected purchase. The owners have offered on a flat, however it’s not been accepted yet, and are looking at other apartments in the pipeline. I have chosen a high street conveyancing solicitor in Trafford. What should be my next step? At what stage do I apply for the mortgage with Nationwide?
It is understandable to have anxieties where there is a chain as you are unlikely to want to incur expenses too early (home loan application is in the region of one thousand pounds, then valuation, Trafford conveyancing search fees, etc). First, you must check that your conveyancer is on the Nationwide approved list. Concerning the subsequent phase this very much depends on the circumstances of your case, motivation for the property and on the state of the market. In a hot market many buyers would apply for the mortgage with Nationwide and arrange for the valuation and only if it comes back ok would they ask their conveyancing practitioner to press on with searches.
How does conveyancing in Trafford differ for new build properties?
Most buyers of new build property in Trafford approach us having been asked by the developer to sign contracts and commit to the purchase even before the premises is completed. This is because house builders in Trafford typically buy the land, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Trafford or who has acted in the same development.
I opted to have a survey completed on a house in Trafford in advance of retaining solicitors. I have been informed that there is a flying freehold element to the house. My surveyor advised that some lenders tend refuse to grant a loan on this type of premises.
It varies from the lender to lender. HSBC has different instructions for example to Halifax. Should you wish to telephone us we can look into this further with the appropriate bank. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Trafford. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Trafford to see if the conveyancing costs will increase in light of this.
I am using a search engine for the phrase cheap conveyancing in Trafford it reveals numerous solicitorsin the area. How do I determine which is the suitable conveyancer for the sale of my house?
The best way of choosing a suitable conveyancer is via trusted testimonial, so seek the opinion of friends and relatives who have acquired a property in Trafford or the reputable estate agent or mortgage broker. Costs for conveyancing in Trafford vary, so it's sensible to secure at least three quotes from varying types of law firms. Dont forget to clarify that the costs are assured not to rise.
To what extent are Trafford conveyancing solicitors under an obligation to the Law Society to publish clear conveyancing costs?
Contained within the Solicitors Code of Conduct are set rules and regulations as to how the Solicitors Regulation Authority (SRA) allow solicitors to publicise their fees to clients.The Law Society have practice note giving advice on how to publicise transparent charges to avoid breaching any such rule. Practice notes are not legal advice issued by the Law Society and is not intended as the only standard of good practice a conveyancing solicitor should adhere to. The Practice Note does, however, represent the Law Society’s view of acceptable practice for publicising conveyancing charges, and accordingly it’s a recommended read for any solicitor or conveyancer in Trafford or further afield.